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Golden Day Profit Review - is it scam or safe?

Golden Day Profit Review - is goldenday.hk scam or good forex broker?

RATING: 1 / 10 REVIEWS Golden Day Profit
Golden Day Profit is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type Minimum deposit Maximum leverage Average Spread
Standard  N/A 1:500 2.7 pips + $30 commission

 

Golden Day Profit Kamyip appears to focus on trading in spot gold and silver. It does not seem to offer different trading account types, and has not made clear its trading conditions either. Yet, it provides free demo trading option and we filled the above table with the data we saw on the demo account.

 

Below, you can read our thorough analysis of Golden Day Profit Kamyip and why we ultimately gave them such a low rating

 

 

Golden Day Profit Kamyip Advantages

 

MT4 supported

Although in our opinion Golden Day Profit Kamyip is not a good choice of a forex broker, we always consider the presence of MetaTrader4 as a positive. The platform is popular among brokers of all skill levels for its reliability, rich functionality and lightness. It has one of the best charting packages, but probably the most prominent MT4 feature is the support for automated trading via Expert Advisors (EAs).

 

 

>> Find a better MT4 broker <<

 

 

Generous leverage

This broker offers high leverage levels, reaching 1:500, which would be enough even for the most aggressive traders. Although we generally view the option for using high leverage levels as a plus, it is not suitable for all traders, and most notable for beginner ones. The higher the leverage, the greater the risk.

 

 

Golden Day Profit Kamyip Disadvantages

 

False claims of regulation

This broker is allegedly owned and operated by Golden Day Profit Kamyip Co., Ltd. Although the website domain and the address suggest that Golden Day Profit Kamyip is based in Hong Kong, the broker is not regulated by the local Securities and Futures Commission (SFC). Instead, the broker it claims tobe licensed by the US National Futures Association (NFA).

 

Our search in NFA’s BASIC system, however, revealed that Golden Day Profit Kamyip Co., Ltd. is registered with the NFA as an EXEMPT Commodity Pool Operator (CPO) and Trading Adviser, which in no way means it is a licensed forex broker under US regulation. We aren’t that familiar with the exact nature of this legal status of Exempt CPOs and Trading advisers, but we suppose that they simply have a NFA registration number after their license has been withdrawn.

 

 

Golden Day Profit Kamyip’s Exempt status (click to zoom)

 

Properly regulated US forex brokers are officially known as Futures Commission Merchants (FCMs) and are required to meet very tough requirements, which is why there are only a few companies legally operating there.  

 

Excessively high trading cost

Golden Day Profit Kamyip has not announced any spreads on its website, but when we tested its demo MT4 we found the benchmark EUR/USD spread floating around 2.7 pips, which is roughly double the size of the average in the industry. On top of that, a salty commission of $30 applies, which means that the trading costs for this pair are around 5.7 pips per standard lot traded.

 

 

Click on the image to zoom in.

 

For further information on spreads, you may check out the below link.

 

 

>> Compare the spreads of 15 leading brokers in real time <<

 

 

Few trading instruments

Another thing we noticed on the demo MT4 is that the broker’s product portfolio is quite limited. It consists of 12 currency pairs, CFDs on precious metals, energies, and Bitcoin. Most brokers offer as many as 50 forex pairs or more, and also support trading in CFDs on indices and stocks.

 

 

Conclusion

 

Golden Day Profit Kamyip is a Hong-Kong based forex broker that is not regulated by the SFC, nor by the US NFA, as it claims. It offers trading on the industry’s leading MT4 platform, but the trading costs are very high. On top of that, the broker’s portfolio is rather limited.

 

Trading with unregulated brokers carries high level of risk, as investors’ interests and funds are not protected. What is worse, most brokers operating without valid licenses are involved in some sort of investment scams.

 

If you are looking for a reliable Hong-Kong forex broker, you may check out our list of licensed companies below.

 

 

>> Brokers licensed in Hong Kong <<

 

 

To sum up our review on Golden Day Profit Kamyip:

 

Pros Cons
MT4 available False claims of regulation
Up to 1:500 in leverage Excessive trading costs
  Few trading instruments

 

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Traders` reviews for Golden Day Profit

Spread

Pros

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Slippage

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Requotes

Pros

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Price feed

Pros

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Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

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Summary

Pros

Cons

 

 

hkgoldencrown/ sunrocindustrial

Recently happend the same attemp on me. First dating site, then WhatsApp. I was curious because she told to be on a business trip and working in financial. She was pretty good, helpful, patient and mostly caring and calm. I chatted with her (or him) almost 3 weeks and got familiar with MT4 platform and used sunroc demo for fun. 97% off the time bells were ringing, but the 3% of me told that this could be a real deal. I even got her to send selfie, but it not her self.. it's the same story as below.
At the end I fckd her up baddly and she kind of revealed herself and went pretty mad :)

Must be a scam

Heikki 07/10/2019

i'm a lucky bastard

Hello friends,

I still don't know how i could have been so blinded, but i also felt for the lady of the dating app. She showed me how she won tons of money with her anaysis team. She told me she'd help me to win tons of money like here cause she liked me (ok ok, you can laugh, i deserve it). She sent me the shitty application form for an account at hkgoldencrown (same logo, same shit as here), told me minimum was to put 10000$. the mt4 system she tells you to use is what confused me, cause she showed me how she does profit live (i guess that the broker she tells you to use ie sunrocindustrial live is a fake one that this organisation controls so they can fake the result).
I wired 10000€ on my account (yeah, i want to slap myself) and after made my first trade with her, won about 1000$, and was almost sure it was real!
I saw that the site was crappy, but my brain just ignored it, as i was so hypnotised by the possibility to earn so much money.
Then i found this site and others, and started to feel like i really fucked up, and was thinking i just gave 10000€ to scammers.
I didnt give up, told the girl i had second thoughts and wanted to test the withdrawal, she started to get mad, but i apologized so we kept on chatting.
I made the withdrawal and guess what. I just received my money back, and even more (the 1000$ i won by the first trade).
I feel i am really lucky, and still don't get how the scam works, i guess like on further trades, i would have lost everything.
Very elaborate scam, i ll try to know more with her, and let you know if i do.
If you have sent money and want it back, tell the girl what i did, like you ll call the hong kong police if the broker is a scam, do the withdrawal and pray for the IPU to help you.
My condoleances to the scammed, i really had chance on this one

Xavier 05/29/2019

Golden Day Profit is SCAM

They will never pay back your money.
This is the same scam as FxFway.
If you feel, they are trying to scam you or if you have lost money please don't hesitate to report as many details as possible to Honk Kong Police (they have a very convenient eReport centre) and to Hong Kong SFC.
Also contact your bank and request them to wire back your money immediately because of fraud.
Don't be shy, even if you lost your money in a 'trade'. There is no real trading going on!

Unlikely Buffalo 05/08/2019

Never trust chinese

I'm actually talking to a Chinese girl that I met online also that shows me these fake profits she always claims to be earning from bitcoin trading..same exact details that everyone here is saying but luckily I've lived in China for 8 years and know to never trust them..o yeah just last night she sent me a contact name of a lady named Sally and Sally sent me a bogus application which you can look at it and know it's not from a real company..the Chinese girls name is Sisi...I guess I'll have a little fun with her before I let her know that I'm not stupid!!!

TJ 04/30/2019

if you send money to their account, the money is lost.

I had the same issue with the young lady from Hong Kong(made her on dating site).
She send me also some fake videos where she is driving a Ferrari (no face). after creating a account with Golden Day Profit , she asked me to send over 30.000 or 50.000 $ to golden day bank account. She will instruct me how to make millions with bitcoin trading.
lucky me i found this side here :-)

yy 04/26/2019

Proven Scam

I met very likely the same woman on the dating site. She showed me she showed me her account which had over one million usd which made me suspicious.. I asked to see her on video but she refused, saying that her style was to meet first. Then when I said I will go to HK to meet her in a couple of days, suddenly her daughter was very sick and she has to go to a far away city for treatment. I caught her in multiple lies.. Finally when I asked her why she kept so much cash in the acct, she said she got 9% interest...which is not supported by her actual account details or any claim on the golden day website....
Total scam. Dont invest here. They should be reported to the HK authorities...

Jim 04/25/2019

Woman on dating site asked my to open a real trading account with Golden day

I met a young lady form Hong Kong on a datig site. she talked me into trading on a Golden Day demon account using an MT4 plat form. she is good trader as we were making money from the get go. She showed me here acount which was over 1.5 milion US.

She has now asked my to open a real trading account with Golden day.
after reading all these reviews I am not so sure. could someone please adivise if Golden day does pay its member out?

Michael Power 04/11/2019

Scam

I fell for this scam lost 50k through them ended up with 1k left which I can’t withdrawl and every time I try it returns to the account about $100 less and they say there was a problem with my bank.

Stay away from this company.

Mick 04/07/2019

Possible scam

After using the demo account for awhile I opened a real account and they gave me wiring instruction on where to wire the money. I wired $20,000 to the Bank of America account as they instructed. This was Jan 24th 2019. As of today the money still has not made it into my account for trading. They said because of an annual review they closed that account and the money would come back to my account. As of today I have no idea where that $20,000 is.

Johannes Schlabach 03/20/2019

Golden Day Profit is a Scam

As already stated in the general review, this company uses false advertising and therefore is deceptive with investors. If you call the NFA directly they will verify that Golden Day is not licensed, registered or regulated by the NFA. Golden Days website says the exact opposite which is purely to mis-lead investors. Also they filed an exemption only with the NFA as a pool trader however they try to convince investors that they will assign personal traders who are licensed and certified. They do not act as a pool trader and its impossible for their traders to be licensed and certified. There are open complaints with the NFTC and SEC regarding this company. Be warned, this company is a scam and if you invest with them you will likely never see your money again.

Ed R 02/27/2019
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